高盛：安踏体育-2025 年第二季度符合预期，重申全年指引，对 2025 年下半年持积极基调；买入

15 July 2025 | 10:58PM HKT Anta Sports Products (2020.HK): In-line 2Q25 and full year guidance reiterated with positive tone into 2H25; Buy (on CL) We came away from Anta's 2Q25 operational update call and GS-hosted NDR today with more conviction and believe share price should react positively tomorrow. In 2Q25 Anta core (+LSD%) /Fila (+MSD) /Descente (+>40%) / Kolon (+>70%) / MAIA (+30%) in retail sales, which we believe is broadly in line with expectation and 1H25 Fila/small brands track ahead of full yea ...